The Daily Monitor, of 27th August 2020, published an article titled “Loans advanced for cars most likely to default, says report” page 36 as a result of the recently released summitBI Banking Sector Report, 2020. Volumes and value of used car imports have been declining in the last three years thus eating into government revenues. Car loans present the biggest risk to bank with borrowers in this category most likely default, according to report. The report also notes that borrowers intending to purchase other goods such as furniture find it difficult to repay money secured to purchase such goods. Mr…
Free yourself from the prison of official ‘titles’.
Many leaders and executives especially politicians and folks in public service hold on their roles for fear of job title identify loss. ‘The ED of xx.’ The PS of xx’. The Minister, xx.’ This creates entitlement. Position identity. And positional power. This kills transitional leadership, as the holder may not imagine life without the job title. The only way is to hold on the position. It’s good to prepare for retirement and transition early on the first day you get the job. As much as possible, try to be identified and respected by your WORKS and not your job title…
#mindspark The testimonial. It is great to take a chance on people.
This young man then, Joseph Ddiba, walked into my office and requested for a job. Despite falling below our minimum entry standards at the time, we gave him a job anyway because he spoke to the heart NOT our brains. He said, ‘without this job, I will end up on the streets. I don’t have any way out. Just help me. He continued coming back to the office weekly for a month, and I decided to give him a website project to do. He did it well.” I learned early on that a CEO must prioritize recruitment, and be involved…
Banking, politics, and you – critical insights about Uganda’s economy
The banking industry is central to economic transformation. Following summitBI Banking Sector Report 2020 for Uganda, the Summit Consulting Team answers three questions about i) impact of the 2021 elections on the economy, ii) causes of the persistently high cost to income ratio in banking, and iii) why durables lead to higher loan defaults. Watch an NTV story about the report here What is the likely impact of elections on already slowing growth? Two possible outcomes: Economic growth (and GDP) are likely to reduce further. During political campaigns, more and more people spend time politicking and attending rallies of their…
The delicate balance of the relationship between the Board and CEO
Below enjoy a brief history of the second coming of Steve Jobs at Apple. I got the story as part of a board briefing pack on the relationship between the board of directors and the executive training I attended sometime in Singapore at an Executive Leadership session conducted by some exceptional professors and leaders. The mantra, “eyes on, hands-off” must be embraced by the board to avoid surprises. It is easy for a CEO to run down a company as they continue to show a rosy picture. As Board, you must have some moment with the top directors to discuss…
Are you dressing for success or failure?
Every Monday morning at Summit Consulting Ltd a staff makes a presentation about a topic we chose in advance at the previous meeting. On 24th August 2020, Bruno Mwebaze presented to the team about the power of a dress code. He made a nice talk. Below are summary notes about the talk. Enjoy. “I will never forget the 16th of June 2019 when I missed the opportunity to meet the President of the Republic of Uganda because of my dress code. At the time I was at University, The State House had a program of engaging with the youth to…
